Titagarh Rail Systems Ltd: The stock jumped 5 percent to Rs 785 on Friday, but some experts are now predicting a recession. Also giving advice on booking profits.
Brokerage firm HSBC increased the target price for shares of multibagger Titagarh Rail Systems Limited from Rs 750 to Rs 900. Due to this, the stock jumped 5 percent to Rs 785 on Friday, but some experts are now predicting a recession. Also giving advice on booking profits.
Let us tell you that this stock has given more than 1600% returns to investors in the last three years. It closed at Rs 44.35 on September 14, 2020. Shares of Titagarh Rail Systems are trading above 50 day, 100 day and 200 day moving averages but below 5 day, 10 day and 20 day moving averages. Technically, the stock’s Relative Strength Index (RSI) stands at 51.6, which shows that it is trading in neither overbought nor oversold zones.
profit booking advice
Ganesh Dongre, Senior Manager – Technical Research Analyst, Anand Rathi Shares and Stock Brokers said, “On the daily chart, the stock has seen a bearish candlestick pattern at the resistance level of Rs 850. A multiple top has also formed at the same level , which indicates that this is a strong resistance level. Hence, we may see further selling in this stock in the coming days. For now we advise traders to book profits in this stock at current levels and avoid fresh longs. Let’s give.”
Railway company has an order worth ₹ 28000 crore, shares became Bullet Train, experts said – price will go to ₹ 900, buy
Abhijeet of Tips2Trades said, “Titagarh Rail Systems is bearish on the daily chart with strong resistance at Rs 855. Investors should book profits at current levels as a daily close below the support of Rs 750 could result in a correction of Rs 636 in the near term. The target of Rs can be achieved.”
what does the company do
Titagarh Rail Systems is engaged in manufacturing and selling of goods wagons, passenger coaches, metro trains, train electricals, steel castings, special equipment and bridges and vessels. The company operates through three segments: freight stock, passenger rolling stock, and shipbuilding, bridge and defence.
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